GASPROM, ARMROSGASPROM MANAGERS DISCUSS LONG-TERM PROGRAM OF GAS SUPPLY TO ARMENIA

YEREVAN-Arminfo. Alexey Miller, Board Chairman, “Gasprom” OJSC, held a meeting at the company’s head office today with Director General of the “ArmRosgasprom” CJSC Karen Karapetian.The sides discussed the current situation with gas supply to Armenia and gas injection into the Abovyan underground gas storage, the results and plans of work of the “ArmRosgasprom” CJSC, issue of gas supply to Armenia in 2004, and a long-term strategy of supplying gas to the country.

In 2003, under an agreement, “Gasprom” supplied Armenia’s consumers with over 288mln. cubic meters of natural gas, the “Itera” company about 837.5mln. cubic meters. Under the contracts signed by now, a total of 1.5bln. AMD cubic meters are to be supplied to Armenia through Georgia in 2004, with the volume to be increased to 1.9bln. cubic meters by 2007. The Armenian-Russian “ArmRosgasprom” CJSC was established in December 1997. The “Gasprom” OJSC and the Ministry of Energy of Armenia hold 45% of shares of “ArmRosgasprom”. 10% of the company’s shares are held by the “Itera” company. The authorized capital of the “Armrosgasprom” is 280mln. USD.